A machine with a cost of $69,500 has an estimated residual value of $3,853 and an...
A machine with a cost of $69,500 has an estimated residual value of $3,853 and an estimated life of 5 years or 17,789 hours. What is the amount of depreciation for the second full year, using the double-declining-balance method?
a. $13,900 b. $27,800 c. $26,259 d. $16,680
Homework Answers
Annual depreciation rate as per straight line method=100%/5=20%/year
Hence depreciation as per double decline balance=2*Annual depreciation rate as per straight line method*Beginning value of each period
| Year | Beginning value | Depreciation | Ending value |
| 1 | 69500 | (2*20%*69500)=27800 | (69500-27800)=41700 |
| 2 | 41700 | (2*20%*41700)=$16680 |
Hence depreciation for the second full year using double-declining-balance method
=$16680
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